{"id":177302,"date":"2023-10-19T19:36:01","date_gmt":"2023-10-19T14:06:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177302"},"modified":"2023-10-19T19:36:01","modified_gmt":"2023-10-19T14:06:01","slug":"btc-price-to-rally-back-to-30k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/btc-price-to-rally-back-to-30k-crypto-news\/","title":{"rendered":"BTC Price To Rally Back To $30K? – Crypto News"},"content":{"rendered":"

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US Federal Reserve Chair Jerome Powell is set to deliver a speech today, October 19, 2023, at the Economic Club of New York, at a time when BTC price<\/a> took an over 6% jump compared to a week ago, over rise in hopes of the U.S. Securities and Exchange Commission\u2019s (SEC) approval of the first ever spot Bitcoin ETF.<\/p>\n

Also Read: Coinbase Selects Ireland As Operational & Regulatory Hub Amid US SEC Offensive<\/strong><\/a><\/p>\n

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Powell Speech: What To Expect<\/h2>\n

In the previous Federal Open Market Committee (FOMC) meeting on September 21, the Fed Chair indicated possibility of another hike from the current interest rate of 5.25 to 5.50%. He said a majority of policymakers think it was more likely than not another rate hike will be appropriate. Hence, traders and investors would be keen to observe in today\u2019s speech any hints on the potential rate hike in the November FOMC meeting.<\/p>\n

Powell will deliver<\/a> his remarks on the US economic outlook and monetary policy, in which investors expect clues on the path towards interest rate decision making in the upcoming FOMC meetings. Reuters reported<\/a> that the US Fed officials along with Powell voice out an \u201cagreement to hold interest rates unchanged\u201d in his speech.<\/p>\n

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The Fed Chair\u2019s comments are likely to lay a path forward for investor expectations, in terms of raising the rates or holding steady. This could also set the tone for a BTC price rally, potentially back to the recent high of $30,000, if Powell speech gives clear hopes of rate hike pause in the upcoming meeting.<\/p>\n

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Spot Bitcoin ETF: Approval Timeline<\/h2>\n

The recent frenzy around spot Bitcoin ETF approval in the United States could likely add a new direction to the way crypto markets are perceived in the mainstream public. Earlier, CoinGape reported<\/a> a Bitcoin price jump as a result of $50 billion inflows following the approval of the spot ETF applications. It is also expected by ETF analysts that all the current spot ETF applications would be approved en masse by the US SEC.<\/p>\n

Also Read: Ripple Partners tokentus AG For XRPL Accelerator Program<\/strong><\/a><\/p>\n

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Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

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Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

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Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com\/BitcoinReddy or linkedin.com\/in\/anveshreddybtc\/ <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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US Federal Reserve Chair Jerome Powell is set to deliver a speech today, October 19, 2023, at the Economic Club of New York, at a time when BTC price took an over 6% jump compared to a week ago, over rise in hopes of the U.S. Securities and Exchange Commission\u2019s (SEC) approval of the first […]<\/p>\n","protected":false},"author":2,"featured_media":177303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-177302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=177302"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177302\/revisions"}],"predecessor-version":[{"id":177305,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177302\/revisions\/177305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177303"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}